Friday, August 12, 2011

Happy Tax Holiday Weekend!

St. 2011, c.86 created a tax holiday weekend this Saturday and Sunday August 13-14. Our helpful Mass. Department of Revenue prepared a "Technical Information Release," TIR-11-7: The 2011 Massachusetts Sales Tax Holiday Weekend that covers pretty much everything there is to know about the law and its limitations. It also includes helpful information for retailers.

And if you don't want to shop on this beautiful summer weekend, remember that sales tax in Massachusetts is 6.25% . A 6.25% sale on any other day would actually save you a little bit more money than the tax holiday (a $10 item would cost $10 on the tax holiday and $9.96 if you saved 6.25% and then paid tax). So shop or go to the beach and enjoy!